May, 2008 Earnings Tax Report

A monthly feature

Below is the summary information from the Earnings Tax Department‘s May Report. This 1st Quarter report showed a YTD increase of 13.6% over the 1st Quarter of 2007. Collections for last month show a significantly smaller increase over May ’07, which prompted Councilpersons Joe Sanker and Keith Moore to make some remarks about it at last week’s council meeting. Essentially, they said the days of 8-15% increases may well be things of the past, but that 4% increases in earnings taxes are still the envy of many other municipalities.

May Collections
Individual………….$ 51,554.50
Business……….…...$ 17,792.30
Withholding…….…$1,037,732.55
TOTAL……….…...…$1,107,079.35

Collections thru May 2008.….……….....….......$7,121, 308.98
Collections thru May 2007.….……..….............$6,838,455.01
Increase in collections over 2007.....4.14%..….$ 282,853.97